Monarch Mining Corporation Announces the Closing of the $4.5 Million Transaction With Gold Royalty Corp.
06 Avril 2022 - 10:30PM
MONARCH MINING CORPORATION
(“
Monarch” or
the “
Corporation”) (TSX: GBAR) (OTCQX: GBARF)
is pleased to announce the closing of the previously announced
transaction with Gold Royalty Corp. (“
Gold
Royalty”) (NYSE: GROY) whereby Gold Royalty has acquired
the following royalty interests from Monarch and eliminated the
following buybacks for cash proceeds of C$4.5 million (the
“
Transaction”):
- (i) an
additional C$1.25 per tonne royalty on all material processed
through the Beacon mill originating from the Beaufor Mine, and each
of the Croinor Gold, McKenzie Break and Swanson properties, and any
future properties of the Corporation;
- (ii) an
additional 0.25% net smelter return (“NSR”)
royalty on each of the McKenzie Break, Croinor Gold and Swanson
properties; and
- (iii) the
elimination of the 1.25% royalty buybacks on each of the McKenzie
Break, Croinor Gold and Swanson properties.
Laurentian Bank Securities Inc. acted as
financial advisor to Monarch in connection with the
Transaction.
About Gold Royalty Gold Royalty
Corp. is a gold-focused royalty company offering creative financing
solutions to the metals and mining industry. Its mission is to
acquire royalties, streams and similar interests at varying stages
of the mine life cycle to build a balanced portfolio offering near,
medium and longer-term attractive returns for its investors. Gold
Royalty’s diversified portfolio currently consists of net smelter
return royalties on gold properties located in the Americas.
About MonarchMonarch Mining
Corporation (TSX: GBAR) (OTCQX: GBARF) is a fully integrated mining
company that owns four projects, including the Beaufor Mine, which
has produced more than 1 million ounces of gold over the last
30 years. Other assets include the Croinor Gold, McKenzie
Break and Swanson properties, all located near Monarch’s wholly
owned 750 tpd Beacon Mill. Monarch owns 29,504 hectares (295 km2)
of mining assets in the prolific Abitibi mining camp that host a
combined measured and indicated gold resource of 478,982 ounces and
a combined inferred resource of 383,393 ounces.
Forward-Looking Statements The
forward-looking statements in this press release involve known and
unknown risks, uncertainties and other factors that may cause
Monarch’s actual results, performance and achievements to be
materially different from the results, performance or achievements
expressed or implied therein. Neither TSX nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX) accepts responsibility for the adequacy or accuracy of this
press release.
FOR MORE INFORMATION:
Jean-Marc
Lacoste |
1-888-994-4465 |
President and Chief Executive Officer |
jm.lacoste@monarchmining.com |
|
|
Mathieu Séguin |
1-888-994-4465 |
Vice President, Corporate Development |
m.seguin@monarchmining.com |
|
|
Elisabeth Tremblay |
1-888-994-4465 |
Senior Geologist – Communications Specialist |
e.tremblay@monarchmining.com |
www.monarchmining.com
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